Small sav­ings set to fetch lower in­ter­est

NEW DELHI: The in­ter­est earned on a range of state-run sav­ing schemes in­clud­ing the pub­lic prov­i­dent fund will be linked to mar­ket rates that will be re­vised ev­ery quar­ter, the fi­nance min­istry said on Thurs­day.

The new sys­tem, ef­fec­tive from April 1, could re­sult in lower in­ter­est rates earned on th­ese schemes given that mar­ket rates move in tan­dem with govern­ment bond rates that are cur­rently on a down­ward trend.